The global recycled polyethylene terephthalate market size was USD 9.32 Billion in 2021 and is expected to register a revenue CAGR of 7.2% over the forecast period, according to the latest report by Reports and Data.

Recycled Polyethylene Terephthalate (rPET) is a transparent, tough, lightweight plastic that is 100% recyclable. PET plastic is completely recyclable, adaptable, and intended to be rebuilt. This substance is a polymer made by mixing pure terephthalic acid with modified ethylene glycol. PET bottle and container fibres are regularly melted and spun into fiberfill or carpet fibres. Furthermore, if gathered in a sufficiently pure form, PET may be recycled into its original usage, and technologies for breaking polymer down into its chemical components for resynthesizing into PET have been devised.

Top Companies Operating in the Global Recycled Polyethylene Terephthalate (RPET) Market:

Verdeco Recycling, Evergreen – A Greenbridge Company, PolyQuest, Inc., Phoenix Technologies International, LLC, Placon, Indorama Ventures Public Company Limited, Loop Industries, Inc., Biffa, LIBOLON, and Plastipak Holdings, Inc.

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Some Key Highlights from the Report

  • The global recycled polyethylene terephthalate market is divided into flakes, chips, and others. Because of the increased acceptance of recycled PET flakes for the manufacturing of food-grade packaging, film reels, automobile seats and coverings, conveyor belts, and fibre, the flakes category is predicted to account for the biggest revenue share throughout the forecast period. These flakes are also commonly utilised in industry for a range of activities, including the production of new PET bottles, the preparation of resin, and the manufacture of toothbrush bristles. Furthermore, due to the rising trend of environmental sustainability, the bulk of recycled PET flakes generated are utilised for staple fibre applications in the textile sector.
  • According to geographical study, the Asia Pacific market accounted for the greatest revenue share due to major F&B firms' sustainable packaging ambitions, which are boosting expenditures in recycling infrastructure in this region's nations, particularly China, Japan, South Korea, and India. China's PET sheet production lines have expanded dramatically in the previous two years. Feedstock costs for sheet factories grow as the prices of PET fibre and PET bottle chips rise, and recycled PET flakes become a suitable cost-cutting option.
  • Phoenix Technologies International LLC. announced on September 1, 2022, that it will enhance the quantity of food-grade recycled polyethylene terephthalate (rPET) it can manufacture by acquiring new extrusion technology to generate pellets at its Bowling Green factory. After Phoenix's expansion is completed by mid-2023, the business hopes to increase its rPET resin manufacturing capacity to 140 million pounds per year, which translates to processing 5 billion bottles per year.

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Key Regional Markets Covered in the Report:

·         North America (U.S.A., Canada, Mexico)

·         Europe (Italy, U.K., Germany, France, Rest of Europe)

·         Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)

·         Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

·         Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Recycled Polyethylene Terephthalate (RPET) Market Segmentation

Type Outlook (Revenue, USD Billion; 2019-2030)

  • Flakes
  • Chips
  • Others

Application Outlook (Revenue, USD Billion; 2019-2030)

  • Bottles
  • Sheet
  • Fiber
  • Strapping
  • Others

Source Outlook (Revenue, USD Billion; 2019-2030)

  • Bottles & Containers
  • Films & Sheets
  • Others

Processing Methods Outlook (Revenue, USD Billion; 2019-2030)

  • Curbside Recycling
  • Recycling Drives
  • Recycling Banks

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